Anil Ambani faces lookout notice in Rs 3,000-crore loan fraud case
Officials say that just before the loan disbursements, money was received by concerns linked to the promoters of Yes Bank. This has raised questions of possible bribery and quid-pro-quo arrangements between bank officials and borrower firms. The ED is now investigating the alleged nexus between Yes Bank promoters and Anil Ambani-linked companies.Gross violations in Yes Bank's loan approvals were flagged. Sources in the ED said that back-dated Credit Approval Memorandums (CAMs), investments made without due diligence or credit analysis, and decisions taken in violation of the bank's own credit policy are among the irregularities found.- Ends
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